The Telangana government is actively working on new industrial policies and is set to form a joint consultative committee

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The Telangana government is actively working on new industrial policies and is set to form a joint consultative committee with the Confederation of Indian Industry (CII) to address key challenges in the state's industrial sector. Industries and IT Minister D. Sridhar Babu is a strong advocate for this initiative, which aims to establish the committee within the next week.

Formation Of The Joint Consultative Committee

The new committee will include the Special Chief Secretary for Industries and leaders from CII. It is modeled after a similar successful initiative in Kerala and will focus on tackling the pressing issues faced by industries in Telangana.

Global Capability Centres (GCC) Policy

In a bid to further strengthen the state’s industrial landscape, Telangana is preparing to unveil a Global Capability Centres (GCC) policy. This policy aims to make Hyderabad a key hub for global companies, particularly in the sectors of Life Sciences and Banking, Financial Services, and Insurance (BFSI). The new policy will help attract international businesses to set up operations in the state. Additionally, the government is planning new policies for IT and industries that will drive growth and innovation while addressing the changing needs of the industrial sector.

Upgrading Industrial Estates

Sridhar Babu also discussed plans to modernise outdated industrial estates in Hyderabad. He suggested that industries in need of expansion or modernization might consider relocating outside the city. The government is committed to providing support to ease this transition and upgrade industrial infrastructure across the state.

Recent Government Initiatives

Since the current Congress government took office, several new initiatives have been introduced to boost economic growth. A new policy for Micro, Small, and Medium Enterprises (MSMEs) has been implemented, along with the establishment of the Young India Skills University, created through a public-private partnership. The government is also focusing on enhancing the food processing industry to boost the rural economy and create new opportunities for growth.

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